Allogenetics Raises €3.8 Million in Pre-Series A Financing

An important milestone for Allogenetics: the biotech company from our first BioIntelligence batch has successfully closed a €3.8 million Pre-Series A financing round. The round was led by NBank Capital, with participation from the CARMA FUND, the Life Science Valley Wachstumsfonds, and additional private investors.

With the new funding, Allogenetics plans to further advance its lead programme, ALG-115, towards clinical development. The financing will support the preclinical studies required for the next steps towards first-in-human trials in lung transplantation.

Allogenetics is developing a novel ex vivo gene therapy approach in which the donor organ is treated once before transplantation. ALG-115 is designed to selectively reduce the expression of the antigen-presenting molecules MHC I and II and thereby modulate the immune response against the transplanted organ. In the long term, the approach aims to help prevent organ rejection and reduce, or potentially eliminate, the need for lifelong immunosuppression.

The financing round therefore marks an important step for Allogenetics on its path from preclinical development towards clinical application.

We are particularly pleased to see this milestone from a company that we had the opportunity to support as part of our first BioIntelligence batch. We continue to follow the development of our alumni beyond the programme and are delighted to see scientific approaches evolve step by step into companies advancing their technologies towards application and the market.

We congratulate the entire Allogenetics team on the successful financing round and wish them every success with the next stages of development.

Read the full press release here.

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